A PESTEL analysis is a framework or tool used by marketers to analyze and monito

A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry. It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. A PESTEL analysis is used to identify threats and weaknesses which are used in a SWOT analysis. Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends. Economic factors include current and projected economic growth; inflation and interest rates; job growth and unemployment; labor costs; impact of globalization; disposable income of consumers and businesses; likely changes in the economic environment. Social factors include demographics (age, gender, race, family size); consumer attitudes, opinions, and buying patterns; population growth rate and employment patterns; socio-cultural changes; ethnic and religious trends; living standards. Technological factors affect marketing in (1) new ways of producing goods and services; (2) new ways of distributing goods and services; (3) new ways of communicating with target markets. Environmental factors are important due to the increasing scarcity of raw materials; pollution targets; doing business as an ethical and sustainable company; carbon footprint targets. Legal factors include health and safety; equal opportunities; advertising standards; consumer rights and laws; product labeling and product safety. INSTRUCTIONS Review the PESTEL ANALYSIS of Starbucks below. Using your research skills find 2 additional PESTEL Analyses on the web for Starbuck’s direct or indirect competitors. Share the links and provide a summary of the analyses. Starbucks PESTEL Analysis – The Strategy Story (https://thestrategystory.com/blog/starbucks-pestel-analysis/) A PESTEL analysis is a strategic management framework used to examine the external macro-environmental factors that can impact an organization or industry. In this article, we will do a PESTEL Analysis of Starbucks. admin The Strategy Story – Simplifying Business Strategies Assignment Format Title Introduction of the 2 Analyses Based on your review of the PESTELs, summarize the importance of conducting an environmental scan. Answer the following question, why is it not enough to look at only your product service when conducting the scan but that of your competitors as well. Conclusion: Discuss the benefits of conducting the PESTEL alongside the SWOT Analyses. 1-2 Pages Include References APA Style